10 Best Discount Brokers in India – Stock Brokers List 2022

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Discount Broker:
Discount brokers generally only provide the trading facility for their clients. They do not offer advisory and suits. They usually offer low brokerage, a quick interface and a user-friendly trading platform for trading in stocks, currency derivatives and commodities. Examples of discount brokers are Zerodha, Upstox, ProStocks, Trade Smart Online, Discount Broker offers the most affordable, low-cost brokerage cost for buying or selling stocks. They only provide all the investors with a trading platform, but no advisory means.When a trader is using a discount broker service they don’t have the added benefit of advisory services.

If you are wondering about how discount brokers can charge low brokerage fees. It is possible because they run on a completely different business model than full-service broking firms. They also offer limited services at a cheaper price.

The services offered by discount broking companies do not include any research services, IPO application services, and investment services in Mutual Funds, Bonds, and FDs etc.

Advantages of Discount Broking-
1. A distinct advantage is the lower commission charge on their services. 2. Uniformity is present in the discount brokers’ commission charged to all the traders irrespective of their transaction volume.
3. The transaction cost involved is low.

You should be enlightened about the fact that no commitments are required to any one stock broker. The First choice is not the final choice.

If finding any lacking in your first choice of stock brokerage. It is possible to switch to a different broker if the present broker doesn’t fulfil your needs. Personally, I have also switched brokers from HDFC Securities to Zerodha.

Savings on paying brokerage is profit-
Why would you pay a higher brokerage to a full-service broker when you don’t require any research report and advisory services. Instead save money on brokerage and it automatically adds on to the profit.

If you fit into all of the above categories, Discount broker is definitely the one for you!

You should carry out your own research & Get a general idea about the stockbroker, their account opening charges, facilities offered, trading apps/websites etc.

Here’s a list of 10 Best stock Brokers in India-
1. Zerodha
Zerodha was founded in 2010 by Mr Nitin Kamath and it is the number one discount broker in India. They are the ones who brought this concept to India, and since then, there is no looking back.

It has more than 1.5 million clients and is known for lower brokerage charges. Zerodha charges Rs.20 for every trade no matter the trade volume.

It gives over 15% of daily retail trading amounts across the Indian stock market. Zerodha is quite flexible when it comes to services and features provided by them.

They also have a mobile app by the name of KITE which has more than 1,000,000 downloads on play store. It is also a member of NSE, BSE, MCX, and MCX-SX. With Zerodha you can trade on stocks, government securities, gold and silver and mutual funds and Futures & options.

Zerodha has made delivery trades free of charges so that the traders can get an entry in the market without any problems. Because of its unique approach, Zerodha has been able to rival all the big players like ICICI direct, HDFC securities.

Brokerage Charges
Equity Delivery: Zero Brokerage
Equity Intraday or Futures:01% or Rs.20 per executed trade whichever is lower
Equity Options: INR 20 Flat
Zerodha Margin-
Upstox has its headquarters in Mumbai, India, and holds memberships with MCX, MCX-SX, BSE, and NSE. Upstox is continuing its immense growth and is one of the most rapidly-growing brokerage firms in India and it has also become the 2nd largest stock broker in India. It is focused on empowering investors and traders for financial success.

Upstox is a discount stock brokerage firm which provides a secure, quick and user friendly trading platform interface for all the investors/traders which are participants of the Indian stock market. Upstox is an Investment brand which is made online, owned by RKSV securities which was incorporated in 2009, is a SEBI registered financial service provider.The trading account of Upstox provides you with access to stock exchanges like NSE, BSE and MCX etc., whereas the demat account is commonly used to hold securities like shares, stocks, mutual funds etc., in electronic form.

Founded in 2009, Upstox is one trustable stock trading broker with a low brokerage. Upstox is one of the affordable and most reliable discount brokers in the non-banking finance industry. Upstox has also made all its trading platforms secure and user-friendly. Upstox provides assistance to its client/traders in numerous forms, the most significant being customer care and customer support, they focus on increasing the customer’s satisfaction.

Upstox provides you an all in one platform to invest in a variety of investment options and products to widen one’s portfolio and diversify the risk. Upstox has a vast spread of technology platforms to trade on and have employed an in-house team to make these platforms better at every passing moment. They have a (Browser trading platform), the Pro-mobile application (Mobile trading app), Tools & Calculators (Order generator, Brokerage Calculator, Margin Calculator).

Upstox has made Investment made super easy for its customers-
• 0 brokerage on Stock investments
• Rs. 20*/ order for Intraday trading and F&0, Currencies, and Commodities
• Upstox is supported and backed by big and influential personalities such as Ratan Tata and Tiger Global
• 100% paperless account opening through digital safe and secure, quick user-friendly trading platform.
• Upstox has 30 lakhs happy investors and traders.
• Transfer or add funds easily within the Upstox App via Smart Transfer, UPI, or Net Banking
• Upstox provides its traders with advanced charting tools. Through which customers can make Informed trading decisions which has helped a lot of traders.
• Provides access to predefined watch lists of Nifty 50 and other indices

Demat account is short form for dematerialisation account. In finance dematerialisation means a process in which a client can get physical paper form securities converted into electronic securities/balances. A Demat Account can be a bit similar to a bank account to maintain and hold your share certificates and other securities that you have invested in an digitised electronic format.

The process of investing in the share market has been made easier through the introduction of Demat Account. Demat Account makes investing in and Holding of investment securities such as bonds, shares, government securities, Mutual Funds, ETFs and insurance hassle free and easier, by converting the process entirely online and electronic. Eliminating the inconvenience of processing physical paper forms, documents, paper shares.

Seamless account opening procedure
The market regulator Securities and Exchange Board of India (SEBI) has mandated that every broker has to verify the details of their customers as part of the Know Your Customer (KYC) norms. This includes conducting an In-person Verification (IPV). Upstox conducts this process over the web. The account opening process is hassle free and quick as well. The whole procedure of opening an account usually takes 1-2 working days.

Upstox BROKER CHARGES & Pricing-
Upstox Saves your costs as a broker with low cost, the primary profit is to save considerably. Saving costs is a given. Most brokers in Asian nations charge brokerage as a proportion of turnover, however not Upstox. So on Upstox you don’t have to pay brokerage on your trades with Upstox.

-Upstox is very low cost based on the following facts-
1. Equity Delivery Trade at 0.1% or ₹20 per executed order, whichever is lower.
2. Brokerage Free Direct mutual funds investment
3. Everything else at BSE, NSE, and MCX. They charge the same fee of 0.05% or ₹20 per executed order, whichever is lower.
4. No minimum Brokerage, no software charges, no subscription fee, and no minimum amount balance required to open an account with Upstox.

The brokerage for equity delivery trades is Rs 20 per trade or 0.1% (whichever is lower) and Intraday and F&O trades is Rs 20 per trade or 0.05% (whichever is lower).

Upstox Charges
1. Account Opening Fees
2. Annual Maintenance Fee
3. Transaction Fees
Upstox charges minimal demat account opening fees of around Rs. 150 + tax. Annual Maintenance Fee of the equal amount is charged for the account.

Upstox has significantly lower charges than large broking firms and continues to keep costs low with the Transaction Fees as well – charging Rs 13+5.5+tax (Rs 5.5 being CDSL’s depository charges)

1. Up to ₹20/order* on Equity, F&O, Commodity and Currency
2. Zero commissions* on Mutual Funds and IPOs

Upstox Brokerage Charges-
Upstox Transaction Charges 2022
Conclusion- In this blog post , we mention the list of top 10 best discount brokers in India,you can choose any according to the facilities provided by them ,charges on trade ,broker charges,client reviews,customer services etc.

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